Individual Savings Account (ISA)
EML Financial Services Limited is owned by four of the partners in Emsleys Solicitors. EML Financial Services is regulated by the Financial Services Authority.
Individual Savings Accounts, or ISAs as they are more commonly known, were introduced by the government in 1999 as a way of helping people save and invest tax free.
An ISA allows you to save up to £7,000 each financial year (which runs from 6th April until the 5th April the following year), and they offer a range of benefits including:
- You don’t pay tax on the income they generate
- You don’t pay tax on capital gains arising from your ISA
- You don’t pay tax when the policy pays out
Anyone over the age of 18 can open an ISA, (you only need to be 16 to open a cash ISA), although you cannot hold a joint ISA.
How we can help
There are two main types of ISA on offer – the Maxi ISA and the Mini ISA – and each can help you save in different ways, but because of the pros and cons associated with each option it’s essential to get expert advice before committing yourself.
That’s where the team here at E.m.l. can help. We’ll work with you to understand your savings targets and then recommend the best ISA product on the market to help meet these requirements.
